Question
11, You have just won the lottery and will receive $500,000 in one year. You will receive payments for 16 years, and the payments will
11, You have just won the lottery and will receive $500,000 in one year. You will receive payments for 16 years, and the payments will increase 3 percent per year. If the appropriate discount rate is 12 percent, what is the present value of your winnings?
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Finance And Financial Markets
Authors: Keith Pilbeam
3rd Edition
023023321X, 978-0230233218
